How do you define success in your disaster restoration business?

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New member
Joined Nov 17, 2016
Messages 4
There are many different definitions of success in business. Some people think that success means having a large company, others it is the amount of employees and others it is based on net profit. I take a different approach to success. My thought is what good is it to have many employees or lots of profits if you don't have time to enjoy the benefits of your "success." I like to think of success as having the ability to do what you want to do, when you want. If you want to go into the office - or take a week vacation, if you can afford to defer a bonus check until next moth - or if you need to take a large bonus to cover the mortgage payment for the month.

As the leader of your business, you get to create your own path. Each of your decisions comes with an opportunity cost. What is the key to this conundrum? It is really quite simple - develop a strategic plan and start to operate your business deliberately. Decouple your personal financials from the business and operate them both independently. Set a standard income level through your operations that meets your lifestyle needs - and make sure the company starts with a profit. Use distributions as a bonus to be paid out when profits are achieved and discretionary cash is amiable.

If you are deliberate in setting a plan for your business and then assure that your plan drives your business so that your company can be a tool to fulfill your personal needs that allow you to do what you want to do, when you want to. This is not always driven by an extremely profitable business - it can be driven through an exceptional team that shares your same expectations.

What is your definition of success and does it align with my thoughts above?